Insider Trading Volume Dropped In the Drug Industry

June 29, 2011 - PRLog -- According a Financial Time report, global drug industry cut its research spending for the first time in a decade and the pace of decline looks to quicken this year. Total R&D spending in the drug industry fell to a 3-year low of $68 billion, despite record sales in 2010 of $856 billion. Insider trading volume in the industry shrank in terms of number of net buyers and sellers. Even though insider buy ratio only declined slightly from 27% to 26%, number of net buyers decreased from 37 to 25 while number of net seller decreased from 99 to 73. For more data and analysis about insider trading, please visit http://www.insiderslab.com/media/mediaRoom.php

NeurogesX, Inc  Arkin Moshe, major shareholder of NeurogesX, sold 300,000 company shares at $3.20 on June 16. This transaction, which netted Arkin $961,380, significantly reduced his shareholding in the company by 57%. Breen Doron, another major shareholder, sold 399,002 shares at $3.14 on June 16 and lowered his shareholding in the company by 51%. The stock was trading at a 4-week high of $3.44 on June 16 and was closed at $1.98 on June 27. Read (NGSX) insider trading report at http://www.insiderslab.com/Notable/NGSX/

Warner Chilcott Plc   Cross Leland H, senior vice president of Warner Chilcott, sold 79,563 company shares at $22.29 on June 10. He also sold 100,000 shares at $22.41 on June 9. The executive cashed 4.01 million dollars in these 2 transactions and significantly reduced his shareholdings in the company by 59%. The stock touched a 4-week high of $24.37 on May 31 and was closed at $24.03 on June 27.  Read (WCRX) insider trading report at http://www.insiderslab.com/Notable/WCRX/

Medivation, Inc.  Qvt Associates Gp LLC, major shareholder of Medivation, sold 368,147 shares at $22.62 on June 7. It also sold 127,834 shares at $22.21 on June 6 and reduced his total shareholdings in the company by 13% in 2 business day. The stock reached a 4-week high of $24.41 and was closed at $21.84 on June 27. Read (MDVN) insider trading report at http://www.insiderslab.com/Notable/MDVN/


Contact the editor of this report Tim Fang in Vancouver at Tim@insiderslab.com

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